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Stricken department store chain Debenhams has warned on profits again as it continues crunch talks with lenders over a deal to shore up its finances.

The company told investors that the statement it made on Jan 10 that it was "on track to deliver current year profits in line with market expectations" was "no longer valid". It declined to give further guidance, saying it will update the market at its half-year results, which usually fall in April.

The profit warning is the company's fourth in 15 months.

Debenhams said trading had improved slightly in the last eight weeks but that conversations with lenders to restructure its balance sheet were "likely to be disruptive to our business in the coming...